Financial Performance - For the fiscal year ending March 31, 2024, the company reported a revenue of RMB 72,567 million, a decrease of RMB 11,095 million or 13.3% compared to RMB 83,662 million in the previous year[2] - Gross profit for the same period was RMB 17,958 million, down RMB 2,623 million or 12.7% from RMB 20,581 million year-on-year[2] - The company experienced an operating loss of RMB 1,009 million, a decline of RMB 2,186 million or 185.7% compared to an operating profit of RMB 1,177 million in the previous year[2] - The net loss attributable to the company's owners was RMB 1,668 million, a significant drop of RMB 1,746 million or 2,238.5% from a profit of RMB 78 million in the prior year[2] - Basic and diluted loss per share was RMB (0.17), compared to earnings of RMB 0.01 per share in the previous year[4] - Sales costs for the year ending March 31, 2024, were RMB 54,523 million, a decrease from RMB 62,993 million in the previous year, representing a reduction of approximately 13.5%[26] - The group reported a total income tax expense of RMB 234 million for the year ending March 31, 2024, down from RMB 644 million in the previous year, indicating a significant decrease of approximately 63.7%[28] - The company reported a basic loss per share of RMB 0.17 for the fiscal year ending March 31, 2024, compared to a profit of RMB 0.01 per share in the previous year[34] - The proposed final dividend for the fiscal year ending March 31, 2024, is HKD 0.020 per share, equivalent to RMB 0.018, down from HKD 0.045 per share (RMB 0.040) in the previous year[35] Assets and Liabilities - Total assets decreased to RMB 60,715 million, down RMB 3,403 million or 5.3% from RMB 64,118 million year-on-year[2] - Total liabilities were reported at RMB 38,921 million, a reduction of RMB 1,000 million or 2.5% from RMB 39,921 million in the previous year[2] - The company's net cash position was RMB 16,504 million, down RMB 2,945 million or 15.1% from RMB 19,449 million in the previous year[2] - The company’s equity attributable to owners decreased to RMB 21,794 million, a decline of RMB 2,403 million or 9.9% from RMB 24,197 million year-on-year[2] - Trade receivables decreased to RMB 2,184 million in 2024 from RMB 3,073 million in 2023, a decline of approximately 29%[39] - Total other receivables decreased to RMB 1,537 million in 2024 from RMB 1,768 million in 2023, a decline of about 13%[39] - Cash and cash equivalents decreased to RMB 11,908 million in 2024 from RMB 12,408 million in 2023, a decrease of around 4%[44] - The company reported a total of RMB 6,628 million in lease liabilities as of March 31, 2024, compared to RMB 7,039 million in 2023, a decrease of about 6%[49] Operational Highlights - The company plans to focus on new product development and market expansion strategies to improve future performance[3] - The customer base is diversified, with no single customer accounting for more than 10% of total revenue[17] - Online business sales accounted for approximately 29% of total revenue, with B2C sales making up about 22%[73] - The company's own app sales represented around 36% of B2C business, and third-party platform sales are being accelerated from Q4 of the fiscal year[73] - Same-store sales growth was -6.6%, with online B2C business achieving low single-digit positive growth despite a decline in average transaction value[53] - The company aims to return to revenue growth and achieve profitability by focusing on cost reduction and efficiency improvements[79] Employee and Compensation - Employee benefits expenses totaled RMB 9,558 million, a decrease from RMB 10,066 million in the previous year[20] - Employee count decreased to 86,226 as of March 31, 2024, down from 107,785 a year earlier, with total employee benefits expenditure amounting to RMB 9.558 billion[78] - The group confirmed employee trust benefit plan-related expenses of RMB 12 million for the year ending March 31, 2023, with no expenses recognized for the following year[24] - The company has adopted a stock option plan and a revised employee trust benefit plan to attract and retain high-quality talent[78] Investment and Future Plans - The company plans to complete the sale of several retail stores within one year, with related assets and liabilities classified as held for sale[45] - The company plans to sell certain non-performing assets to reduce losses and store closure costs, with related assets classified as held for sale as of March 31, 2024[69] - The company plans to open four new membership stores in the new fiscal year, having already secured locations for four hypermarkets and signed contracts for 13 medium-sized supermarkets[74] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[80] - The company’s ultimate holding company is Alibaba Group Holding Limited[1] - The company’s management and auditors have discussed internal controls and financial reporting matters[82] Miscellaneous - The company has applied new accounting standards effective from April 1, 2023, including HKFRS 17 on insurance contracts[15] - The company did not face significant foreign exchange risks as most of its assets and liabilities are denominated in RMB[70] - The company will publish its annual report for the fiscal year ending March 31, 2024, on the HKEX and its own website[88] - The company will suspend the registration of share transfers from August 9 to August 14, 2024, to ensure shareholders can attend the annual general meeting[86]
高鑫零售(06808) - 2024 - 年度业绩